NOVEMBER 19 2020
Since 2014, Gina Tricot has been successfully developed by the founding family Appelqvist, together with Sätila, Frankenius Equity and Nordic Capital. Today, Gina Tricot is a leading, sustainable fashion company in the Nordic region with a rapidly growing digital business. Frankenius Equity has now acquired Nordic Capital's ownership in Gina Tricot and will, alongside the other owners, continue to support the company's development.
“It is very inspiring and exciting to have the opportunity to increase our ownership. Together with Appelqvist Holding and Sätila, I look forward to continuing to develop Gina Tricot based on the company's market position today. Together with Nordic Capital, we have made significant investments in the company, with a focus on developing a fast-growing e-commerce business, a more sustainable production combined with the launch of several new concepts in the recent years. Gina Tricot stands for both simplicity and passion, both through its design and culture. This is something we will stick to on our continued joint journey ", says Paul Frankenius, Chairman of the Board and co-owner of Gina Tricot.
Gina Tricot was founded in 1997 in Borås by Annette and Jörgen Appelqvist with the vision of offering good fashion for little money. In 2014, Nordic Capital and Frankenius Equity joined as co-owners, with the joint ambition to create a competitive platform and to develop Gina Tricot's e-commerce offering, which has become even more important during the current economic situation. Through a new IT system and a leading omnichannel structure, a very fast-growing digital commerce has been created, both in its own channels and with partners. Today, Gina Tricot has an annual turnover of approximately SEK 2 billion with 1,600 employees. The fashion industry is changing rapidly and the business has been strengthened at all levels to create the best customer experience.
“We are very proud of the fantastic journey we have been on together with all of our employees. Together with Nordic Capital, we have switched to a higher degree of digitalisation over the last few years, and we look forward to becoming an even more modern fashion company. The current position and the opportunities are great", says Jörgen Appelqvist.
“Nordic Capital invested in Gina Tricot with a clear goal of developing and modernizing one of the Nordic region's most well-known brands. Since then, Gina Tricot has strengthened its digital and commercial capacity to achieve stable profitability and growth, with ongoing support from Nordic Capital's expertise in, among other things, digitization and sustainability. Together with Gina Tricot's passionate employees, we have increased the company's competitiveness” says David Samuelson, Principal, Nordic Capital Advisors.
The parties have agreed not to communicate financial details.
Media contacts:
Gina Tricot & Frankenius Equity
Sanna Franklin
Press Contact
Tel +46 70 863 85 55
email: sanna@cultcommunications.com
Nordic Capital
Katarina Janerud, Communications Manager
Nordic Capital Advisor
Tel: +46 8 440 50 50
email: katarina.janerud@nordiccapital.com
About Frankenius Equity
Frankenius Equity is a privately owned investment company with a focus on E-com, retail, medical technology and real estate. The company invests mainly together with operating partners and larger investment companies and currently has around ten investments. For more information visit www.fraq.se
About Gina Tricot
Gina Tricot is a Swedish fashion chain that offers exciting and feminine fashion to women in over 30 countries. The company has 162 stores and 1,600 employees. Our strength is to be able to attract the modern woman, in everything from design to price, quality and sustainability. We have a strong passion for fashion and aim to offer the customer a new and interesting shopping experience. For more information, visit www.ginatricot.com
About Nordic Capital
Nordic Capital is a leading private equity investor with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a long history. Focus sectors are Healthcare, Technology & Payments, Financial Services, and selectively, Industrial & Business Services. Key regions are Europe and globally for Healthcare and Technology & Payments investments. Since inception in 1989, Nordic Capital has invested more than EUR 15.5 billion in over 110 investments. The most recent fund is Nordic Capital Fund X with EUR 6.1 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Advisors have local offices in Sweden, Denmark, Finland, Norway, Germany, the UK and the US. For further information about Nordic Capital, please visit www.nordiccapital.com